Management, Board and shareholders

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Stephany Webster
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1 AB K2 LT

Management, Board and shareholders MANAGEMENT Vytenis Labanauskas Director/founder/shareholder Vytenis has also 10 years of experience as a general manager in UAB Sveikas Žmogus, where

MEMBERS OF THE BOARD Vidas Andrikis Chairman of the Board, Founder Tadas Mankevičius Wealth manager in INVL Finasta (independent member) Gediminas Uloza Director of UAB Pramonės

2 Management, Board and shareholders MANAGEMENT Vytenis Labanauskas Director/founder/shareholder Vytenis has also 10 years of experience as a general manager in UAB Sveikas Žmogus, where he was developing media projects. MEMBERS OF THE BOARD Vidas Andrikis Chairman of the Board, Founder Tadas Mankevičius Wealth manager in INVL Finasta (independent member) Gediminas Uloza Director of UAB Pramonės Energija (independent member) SHAREHOLDERS Vidas Andrikis Assistant director/founder/shareholder Vidas is a former vice minister of environment and is a representative for Lithuania in European Compost Network. 55.7% TOTAL % 10.9% 16.2% Vytenis Labanauskas family Vidas Andrikis family Cayenne Investment Fund Others (< 5% each) 2

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General overview Established in 2008, AB K2 LT is the first and only crematorium operator in Lithuania. The crematorium is situated at the centre of Lithuania: city of Kėdainiai.

6 General overview Established in 2008, AB K2 LT is the first and only crematorium operator in Lithuania. The crematorium is situated at the centre of Lithuania: city of Kėdainiai. Due to lengthy bureaucratic procedures, the first cremation was performed only at the end of Since then, the company has been rapidly growing. Since May 2015, K2 LT was listed on Nasdaq s First North Baltic. The company has 8 employees. EUR 000' E Cremations, units 2'118 2'770 3'502 4'300 Revenues '235 1'400 Gross profit '040 margin, % 76% 81% 84% Operating expenses EBITDA margin, % 60% 58% 58% Net profit margin, % 29% 36% 41% 48% 6

Location The crematorium is situated at the centre of Lithuania: Kėdainiai free economic zone. The location provides easy access to all of Lithuania s largest cities.

7 Location The crematorium is situated at the centre of Lithuania: Kėdainiai free economic zone. The location provides easy access to all of Lithuania s largest cities. For that reason many logistics centers are based in the region. Distances by car to major cities: - Riga 210 km; K2 - Vilnius 130 km; - Kaunas 50 km; - Klaipėda 210 km; - Šiauliai 100 km; - Panevėžys 60 km;

8 Business COLLABORATION EQUIPMENT CAPACITY EXPANSION DIVIDENDS K2 LT business is based on collaboration: almost 90 % of deceased are brought by funeral service companies with which the company has business agreements, many of them running over 2 years. K2 LT uses IFZW KE400 cremation system. It is one of the most modern and efficient equipment in the world manufactured by IFZW in Germany. K2 LT has two KE400 cremation lines. KE400 has a maximum theoretical capacity of annual cremations per line while optimal capacity is cremations. K2 LT have plans to open second crematorium in the capital of Lithuania Vilnius. Search and evaluations of land plots is in progress. K2 LT is paying out substantial share of profits as dividends (about 90 %). Right after listing, K2 LT paid out EUR dividends for FY 2014 to all new investors. For FY 2015 the company paid out EUR dividends. 8

9 Case Study Shares were offered for EUR 23 per share Equity value of EUR 6.4 million 65 new investors Almost 70 % of total shares outstanding were sold HIGHLIGHTS Total offering size of over EUR 4 million EUR 1 million was from new share issue 9.5x EV/adj. EBITDA 5.0% dividend yield On 29 th of April share price was EUR % increase TIMELINE Sell-side mandate Target price: EUR 5 million (EV) More interest from local investors Idea of private placement and listing was born Sufficient market demand. Trade sale talks discontinued Private placement and listing March 2014 Jul Nov Feb May potential investors signed NDAs Three serious bidders. But: elusive offers Dual track launch. Shareholder commitments. Preparations for listing (change of legal status, share capital, etc.)

10 Cremations Q1 Q2 Q3 Q AB K2 LT has exceeded expectations and in 2015 has conducted cremations. This is 26 percent more than in 2014 (2 770 cremations). During March, 2016, largest number of cremations since establishment 356. It is expected that number of cremations in 2016 will reach

11 Results of FY2015 2,000 1,800 1,600 1,400 1,200 1, % % % '235 41% % 40% 35% 30% 25% 20% 15% 10% 5% 0% In 2015 revenues reached EUR thousand and, compared to 2014, grew by 28 percent. In 2015 EBITDA amounted to EUR 715 thousand and, compared to 2014 (556 thousand), increased by 29 percent. Net profit in 2015 comprised EUR 502 thousand (44 % year over year growth). Expected revenues for 2016 is EUR 1.4 million with Net profit of EUR 670 thousand. 11 Revenues, EUR 000' EBITDA, EUR 000' Net profit, EUR 000' Net Profit margin, %

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AB K2 LT PRESENTATION

AB K2 LT PRESENTATION Management, Board and shareholders MANAGEMENT Vytenis Labanauskas Director/founder/shareholder Vytenis has also 10 years of experience as a general manager in UAB Sveikas Žmogus,