Financial Performance - Invalda INVL reported equity of EUR 225.9 million at the end of June 2025, representing a 27.4% increase year-over-year, with an equity per share of EUR 18.73, up 27.5% [1] - The company achieved an unaudited net profit of EUR 18 million in the first half of 2025, a 53.8% increase from EUR 11.7 million in the same period last year [1] Dividends and Shareholder Returns - In 2025, Invalda INVL paid dividends of EUR 1.25 per share, the largest in its history, totaling EUR 87.4 million paid out to shareholders since its listing [2] Asset Management and Investments - The assets under management of Invalda INVL's companies reached EUR 2 billion at the end of June 2025, a 26.9% increase year-over-year and an 18.5% increase since the start of 2025 [4] - Revenue from asset management totaled EUR 8.7 million in the first half of 2025, a 46.6% increase compared to the same period in 2024 [5] Strategic Initiatives - The company has over EUR 400 million in free cash available for investments across the Baltic countries, Poland, Romania, and other nearby markets, actively seeking acquisition opportunities [6] - The INVL Baltic Sea Growth Fund completed an equity investment in the Pehart Group, finalizing a portfolio of 10 companies in the Baltics, Poland, and Romania [7] Renewable Energy Investments - The INVL Renewable Energy Fund I secured EUR 29.3 million in new financing for solar power plant construction, and REFI Sun raised EUR 15 million through a public bond offering [8] Portfolio Management - Invalda INVL's other equity investments contributed EUR 16.9 million to earnings in the first half of 2025, positively influenced by strong performance from banks in which the company holds stakes [10][11] - The company reported significant contributions from its investments in Artea Bank and maib, with net profits of EUR 31.9 million and EUR 42.5 million respectively, impacting Invalda INVL's results positively [11] Industry Outlook - The CEO of Invalda INVL noted that the business climate remains uncertain and rapidly changing, emphasizing the need for adaptability and the opportunities it presents [3]

Core Insights - REFI Sun, part of the INVL Renewable Energy Fund I, successfully completed a public bond placement of EUR 15 million aimed at financing renewable energy projects in Poland and Romania [1][2][3] Group 1: Bond Offering Details - The bond offering raised EUR 15 million, with total demand reaching EUR 15.636 million from 567 investors [2][6] - The bonds have a 2.5-year maturity with an annual interest rate of 8.5%, payable quarterly, and a minimum investment amount of EUR 1,000 [6] - Institutional investors acquired 57.75% of the bonds, while retail investors received 42.25% [6] Group 2: Project Financing and Development - Proceeds from the bond will finance a portfolio of solar power projects with a total capacity of 389 MW in Poland and Romania [2][9] - The fund's total investments in these markets are expected to exceed EUR 250 million, with over EUR 90 million already invested as of June 2025 [9][10] - The construction of all solar parks is anticipated to be completed by the end of 2027 [9] Group 3: Market and Investor Confidence - The bond issuance reflects strong investor confidence in the fund's renewable energy initiatives in Poland and Romania [3][5] - The offering allows investors to diversify their portfolios while contributing to sustainable development goals [5] - Increased interest from institutional investors has been noted compared to previous bond offerings [3]

Tomas Varenbergas Head of Investment Management Division tomas.varenbergas@artea.lt , +370 610 44447 Artea Bank thanks all participants. If you would like to receive Artea Bank news for investors directly to your inbox, subscribe to our newsletter. Additional information: During the Investor Conference Webinar by Vytautas Sinius, CEO and Tomas Varenbergas, Head of Investment Management Division introduced the Bank's financial results for 6M 2025 and recent developments and answered the participant questions ...

Core Viewpoint - Artea Bank has successfully rebranded and aims to become the best bank in Lithuania by 2029, while continuing to increase financing volumes despite challenges from the ECB's monetary policy [1][2]. Financial Performance - In the first half of 2025, Artea Bank Group reported a net profit of €31.9 million, a decrease of 26% from the same period in 2024. Operating profit before impairment and income tax was €42.9 million, down 25% year-on-year [3]. - Net interest income fell by 15% to €68.4 million, while net fee and commission income increased by 10% to exceed €15.1 million [3][13]. - Total revenue decreased by 12% to €99.3 million, with total operating expenses rising by 2% to €56.4 million [13]. Loan Portfolio and Financing - The total loan portfolio grew by 5% (€159 million) to €3.7 billion in the second quarter, and by 7% (€235 million) since the beginning of the year [4]. - New loan agreements increased by 18% to €0.9 million in the first half of 2025 compared to the same period in 2024 [4]. - The quality of the loan portfolio remains strong, with provisions for loans stable at €4.3 million and a cost of risk ratio of 0.2% [5]. Customer Deposits - The customer deposit portfolio grew by 4% (€133 million) to exceed €3.5 billion, with demand deposits increasing by 14% (€229 million) [6]. Business Segments Overview - In the corporate client segment, new business financing agreements rose by 18% to €0.5 billion, and the business loan portfolio grew by 7% (€120 million) to exceed €1.9 billion [7]. - The volume of new mortgages surged by 69% to €162 million, while the housing loan portfolio grew by 10% (€96 million) to exceed €1 billion [9]. - Artea Bank strengthened its position in the bond issue market, with bonds issued on behalf of corporate clients exceeding €130 million [10]. Asset Management - Artea Asset Management leads in managing second and third pillar pension and investment funds, with €177 million in third-pillar pension funds, representing 40% of the market [11]. - The second-pillar pension funds managed by Artea have nearly €1.2 billion in assets and have performed well compared to competitors [12].

Core Viewpoint - INVL Renewable Energy Fund I is raising up to EUR 15 million through a bond offering by REFI Sun, targeting retail and institutional investors in the Baltic countries from July 28 to August 15 [1][4]. Group 1: Bond Offering Details - The bonds have a maturity of 2.5 years with a fixed interest rate expected to be between 7.5% and 8.5%, announced upon completion of the offering, and interest will be paid quarterly [2]. - The minimum investment amount for the bond offering is set at EUR 1,000 [4]. - The lead arranger for the bond program is Artea Bank, with participation from Evernord, LHV Pank, and Signet Bank as distribution partners [5]. Group 2: Fund's Investment Strategy - The funds raised will primarily refinance a previous loan and support the construction of solar power plants in Romania and Poland, where the fund sees significant growth potential [3][8]. - The total capacity of projects in development in Poland and Romania is 389 MW, with investments expected to exceed EUR 250 million [8][9]. - As of June 2025, the fund has invested over EUR 90 million in the acquisition and construction of solar projects, with completion expected by the end of 2027 [9]. Group 3: Fund Background and Performance - The INVL Renewable Energy Fund I was established on July 20, 2021, focusing on early- and mid-stage renewable energy projects in the EU and EEA [11]. - The fund has successfully raised EUR 73.9 million from investors through investment units and bonds to date [10]. - In February 2025, the fund's company REFI Energy completed an EUR 8 million bond offering with strong demand, indicating investor confidence in the fund's management [7].

Financial Performance - Invalda INVL reported equity of EUR 238.1 million at the end of March 2025, representing a 30.9% increase year-over-year, with a per-share value of EUR 19.82, up 30.8% from the previous year [1] - The company achieved an unaudited net profit of EUR 15.9 million in Q1 2025, which is 3.4 times higher than the EUR 4.7 million net profit recorded in the same period last year [1] Asset Management - The asset management group experienced a EUR 3 million loss for clients in Q1 2025 due to global market corrections, yet the total value of client assets under management grew by 27.9% year-over-year, exceeding EUR 1.9 billion [2] - Revenue from asset management activities reached EUR 3.9 million in Q1 2025, marking a 32.8% increase compared to the same period in 2024 [4] Strategic Developments - The successful launch of the INVL Private Equity Fund II was highlighted as a significant achievement, making it the largest fund in the Baltics [3] - The INVL Baltic Sea Growth Fund completed the sale of InMedica Group, demonstrating a successful growth strategy and returning a significant portion of capital to investors [6] Investment Activities - The INVL Renewable Energy Fund I completed an oversubscribed EUR 8 million bond issue in February 2025 [7] - The company is actively seeking investment targets for the INVL Private Equity Fund II, with expectations to finalize at least two acquisitions by the end of 2025 [6] Equity Investments - Invalda INVL's other equity investments contributed EUR 17.7 million to earnings in Q1 2025, positively influenced by strong performances from banks in which the company holds stakes [9] - Maib, Moldova's largest bank, reported a record net profit of EUR 20.1 million in Q1 2025, while Artea Bank earned EUR 17.35 million [10] Additional Insights - The agricultural business group Litagra positively impacted Invalda INVL's results with EUR 1.6 million in Q1 2025, supported by a favorable market environment [11] - The INVL Family Office expanded its client base in the Baltic region and joined an initiative to support the Vilnius Lyceum Alumni Endowment fund [8]

On 19 May 2025, Invalda INVL, the asset management group and the largest shareholder of Artea Bank, sold small part of its stake (2 million or 0.3% of the authorized capital) to remain compliant with the 20% ownership threshold set by the European Central Bank (ECB). Shares were acquired by Algirdas Butkus, the founder and one of the main shareholders of the bank. "With the ECB's permission, Artea Bank has bought back its own shares and will cancel them by a resolution of the general meeting of shareholders ...

Invalda INVL, the leading Baltic asset management group, has sold 2 million shares, representing 0,3% of the authorized capital, of Artea Bank at EUR 0.88 per share to remain within the 20% shareholding limit set by the European Central bank. "Artea Bank decided to annul its previously acquired own shares and to reduce its authorized capital. As a result, Invalda INVL Group had to sell some of its shares to remain within the permitted limit of the bank's authorized capital, As the transaction was made over- ...

Core Perspective - Artea Bank will officially begin operations on May 5, 2025, marking a significant transformation as Šiaulių Bankas adopts a new name after over 30 years in the Lithuanian market, with a new equity ticker ROE1L on the Nasdaq Baltic Exchange [1][4] Group 1: Rebranding and Strategy - The rebranding to Artea is part of the bank's updated strategy for 2024–2029, aiming to strengthen its market position and enhance customer trust [4] - The bank will unify all group companies, including asset management, life insurance, consumer credit, and multi-apartment modernization funds, under the Artea brand [3] - The name Artea reflects the bank's vision of modern, accessible, and flexible banking services for both corporate and private customers [3] Group 2: Leadership and Shareholder Structure - Vytautas Sinius, the CEO of Artea Bank, stated that the decision to rebrand has been in development for some time, emphasizing the bank's growth into a universal bank focused on the Lithuanian market [2] - The main shareholders of Artea Bank remain unchanged, including prominent Lithuanian business leaders and the European Bank for Reconstruction and Development (EBRD) [5]