ACCOLADE INDUSTRIAL FUND PRESENTATION We invest in smart - - PowerPoint PPT Presentation

August 2020

ACCOLADE INDUSTRIAL FUND PRESENTATION

We invest in smart Industrial Parks for a sustainable future

Why to invest in Industrial Real Estate Our Parks Accolade Industrial Fund Investments with Accolade Upcoming Projects Key Personnel

CONTENT

LOGISTICS PRODUCTION RETAIL & E-COMMERCE

OUR TENANTS

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WHY TO INVEST IN INDUSTRIAL REAL ESTATE?

• industrial properties are one of the most profjtable real estate investment
• long-term lease agreements
• higher solvency of tenants
• rents are stable or growing in the long term

INDUSTRIAL PROPERTY PRIME YIELDS IN CZ, PL, DE (BY YEAR) PROPERTY YIELDS

Source: CBRE

Residental Residental Residental

CZ PL DE

Industrial property Industrial property Industrial property Shopping malls Shopping malls Shopping malls Offjces Offjces Offjces

year

Czech Republic Germany Poland

1 2 3 4 5 6 7 8 9 07 08 09 10 11 12 13 14 15 16 17 18 19 20

• ka

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INDUSTRIAL PROPERTIES MARKET CZECH REPUBLIC

• total stock of modern A-class warehouse and industrial properties is 8.82 million sq m.
• net efgective rent ranges between EUR 3.50–4.50 per sq m per month.
• average lease transaction size is 6,900 sq m.

VACANCY Q2 2020 INDUSTRIAL BUILDINGS: 4.58% OFFICES: 6.10%

Source: CBRE

New supply of industrial properties in the Czech Republic (thousands of sq m)

NEW PROPERTIES

430

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INDUSTRIAL PROPERTIES MARKET POLAND

New supply of industrial properties in Poland (thousands of sq m)

• total stock of modern A-class warehouse and industrial properties is 19.43 million sq m.
• net efgective rent ranges between EUR 2.00–4.79 per sq m per month.
• average lease transaction size is 8,260 sq m.

VACANCY Q2 2020 INDUSTRIAL BUILDINGS: 6.70% OFFICES: 9.18%

Source: CBRE

NEW PROPERTIES

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INDUSTRIAL PROPERTIES MARKET GERMANY

• total stock of modern A-class warehouse and industrial properties is 82.60 million sqm.
• net efgective rent ranges between EUR 3.80–7.15 per sq m per month.
• average lease transaction size is 11,500 sq m.

OFFICES: 3.60%

Source: CBRE

INDUSTRIAL PARK ALSDORF, GERMANY

VACANCY Q2 2020 INDUSTRIAL BUILDINGS: 2.40%

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EXIT 164 TCHIBO BWI DHL D6 T.F.S. INTERNATIONAL PRAGUE (155 km, 120 min) GERMAN BORDER (14.3 km, 10 min) CHEB (5.1 km, 11 min)

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• strategic location with quality infrastructure
• tenants of global brands from e-commerce, logistics and

production

• modern halls with environmentally friendly technologies
• support for the economic growth of the region
• rebirth of traditions - revitalization of brownfjelds

The diversifjcation of our portfolio from the perspective of the tenant industry and the region ensures our fund's stability and excellent results.

UNIQUENESS OF OUR PARKS

GOOD STRATEGIC POSITION IN THE REGION LOGISTIC ACCESSIBILITY TO THE TENANTS TARGET MARKET EXCELLENT ACCESS FOR TRANSPORT LOCATION THAT MEETS THE NEEDS OF SUPPLIERS AND CONSUMERS SUFFICIENCY AND HIGH QUALITY OF WORKFORCE

LOCATION IS THE KEY

INDUSTRIAL PARK CHEB, CZECH REPUBLIC

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MODERN INDUSTRIAL PARKS FOR SUSTAINABLE FUTURE

Accolade is a socially responsible investment group with commitments to its investors, tenants, business partners, but also to the society, environment, and its employees. Sustainable development is key for Accolade. Our ESG strategy includes our commitments.

BREEAM OUTSTANDING EXCELLENT VERY GOOD GOOD TOTAL BREEAM 27,326 sq m 43,062 sq m 149,650 sq m 403,583 sq m 623,622 SQ M

E – ENVIRONMENTAL

WE INVEST AND DO BUSINESS IN HARMONY WITH ENVIRONMENTAL PROTECTION

S – SOCIAL

WE SUPPORT BENEFICIAL PROJECTS FOR THE SOCIETY IN THE REGIONS WHERE WE OPERATE

G – GOVERNANCE

TRANSPARENCY AND FAIRNESS IS PRIORITY TO US

In addition to creating new locations, the Fund’s long-term goal is to revitalize existing brownfjelds. Brownfjelds accounts for almost 30%

• f the fund`s portfolio.

ALSDORF ZIELONA GÓRA ZIELONA GÓRA SZCZECIN SZCZECIN BYDGOSZCZ LUBLIN TÝNIŠTĚ NAD ORLICÍ PŘEŠTICE HOŘOVICE STŘÍBRO STŘÍBRO LEGNICA KIELCE BIAŁYSTOK

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PARKS IN ACCOLADE INDUSTRIAL FUND

PARKS IN THE FUND PARKS IN PROCESS

CHEB CHEB SOUTH PAVLOV

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OUR PARKS CZECH REPUBLIC, POLAND , GERMANY

PŘEŠTICE HOŘOVICE OSTROV U STŘÍBRA LUBLIN CHEB TÝNIŠTĚ NAD ORLICÍ PAVLOV SZCZECIN BYDGOSZCZ CHEB SOUTH

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ZIELONA GORA SZCZECIN CHEB ALSDORF BIAŁYSTOK OSTROV U STŘÍBRA

OUR PARKS CZECH REPUBLIC, POLAND , GERMANY

ZIELONA GORA LEGNICA KIELCE

IN PROCESS IN PROCESS IN PROCESS IN PROCESS

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OUR FUND IN NUMBERS

expected return p.a. tenants investors industrial parks ACCOLADE INDUSTRIAL FUND INVESTMENTS AS OF JUNE 30, 2020 EUR: 42.791 million: annual revenue from lease agreements EUR: 621.929 million: total value of Accolade Industrial Fund 850,789 sq m: gross leasable area ESTIMATED VALUE OF ACCOLADE INDUSTRIAL FUND INVESTMENTS WITH THE POTENTIAL PROJECTS AS OF JUNE 30, 2022 EUR 66.463 million: annual revenue from lease agreements EUR 983.231 million: total value of Accolade Industrial Fund 1,332,882 sq m: gross leasable area

+7%

EXPECTED RETURN p.a.

7% 60 960 15

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ACCOLADE INDUSTRIAL FUND CURRENT PROJECTS

LOCATION COUNTRY VALUATION GLA (sq m) LEASE TERM WAULT LTV

A - projects in fund Park Hořovice Czech Republic 21,420,000 € 34,780 6-10 years 5.73 Park Cheb Czech Republic 102,070,000 € 147,227 5-15 years 4.94 Park Stříbro Czech Republic 103,860,000 € 123,172 7-17 years 8.61 Park Pavlov Czech Republic 8,670,000 € 11,005 3-5 years 1.90 Park Týniště nad Orlicí Czech Republic 8,370,000 € 9,783 10 years 7.39 Park Přeštice Czech Republic 16,570,000 € 14,015 16 years 14.15 Park Cheb South Czech Republic 19,700,000 € 27,326 10 years 9.78 Park Szczecin Poland 114,960,000 € 169,422 2-11 years 4.51 Park Bydgoszcz Poland 30,670,000 € 50,109 4-6 years 1.73 Park Zielona Gora Poland 56,540,000 € 81,111 3-10 years 4.71 Park Lublin Poland 53,454,000 € 73,470 4-10 years 4.93 Park Kielce Poland 26,690,000 € 36,373 7-10 years 8.54 Park Bialystok Poland 31,020,000 € 42,188 3-10 years 5.19 Park Legnica Poland 19,880,000 € 23,294 10 years 9.06 Park Alsdorf Germany 8,055,000 € 7,512 10 years 9.07

TOTAL 621,929,000 € 850,789 5.98 56.26% LOCATION ASSUMED ACQUISITION COUNTRY VALUATION GLA (sq m) LEASE TERM WAULT LTV

B – projects in process Park Stříbro (expansion) 3Q 2020 Czech Republic 25,000,000 € 25,585 30 years 30.00 Park Cheb (expansion) 4Q 2020 Czech Republic 12,700,000 € 12,898 10 years 10.00 Park Szczecin (expansion) 4Q 2020 Poland 10,100,000 € 12,192 5-10 years 6.90 Park Zielona Gora (expansion) 4Q 2020 Poland 12,750,000 € 11,626 5-7 years 6.65

TOTAL 60,550,000 € 62,300 12.70 70.00%

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ACCOLADE INDUSTRIAL FUND

BANK FINANCING 357.039 mil. EUR TOTAL LEASED-UP AREA 850,789 SQ M

% share of industries in leased-up area

ANNUAL RENTAL INCOME OF 42.791mil. EUR

% share of tenants in rental annual income

COUNTRIES SHARE IN PORTFOLIO VALUE 621.929 mil. EUR

E-commerce Engineering Logistics Retail Automotive Eletrical IT recycling Plastic piping Poland 53.6% 1.3% 45.1% Czech Republic Germany 29.6% 12.4% 8.8% 29.9% 11.7% 7.1% 0.3% 0.2% DHL 13.3% 6.1% 4.0% 3.1% 7.3% 4.9% 4.0% 2.9% 3.7% 2.8% 3.1% 44.9% Raben KION Group Pierce Oponeo Tchibo Assa Abloy real Digital Expondo Gates ABC Autoparts Ostatní Erste Bank Aareal 21% 43% 7% 5% 14% 6% 4% 1% Santander UniCredit Bank Pekao ČSOB mBank Sparkasse

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ORGANIGRAM ACCOLADE INDUSTRIAL FUND

90% Founders Shares

Holding, a.s. Czech Repulic Fund SICAV, plc Malta

100%

Industrial Fund Malta

Othere investors individuals legal persons foundations funds Accolade Holding and its owners

5.45% 94.55% POLAND CZECH REPUBLIC GERMANY Zdeněk Šoustal 50% Milan Kratina 50%

Accolade Capital Holding (Malta) Ltd. Accolade Investment Company Ltd.

100% 100%

companies with a tenant empty companies

AIFM XVI, s.r.o. AIFM XVII, s.r.o. AIFM XVIII, s.r.o. AIFM XIX, s.r.o. AIFM I, s.r.o. tenant: ALPHA Corporation AIFM II, s.r.o. tenant: Ideal Autmotive, Leoni AIFM III, s.r.o. tenant: KION Group AIFM IV, s.r.o. tenant: BWI AIFM V, s.r.o. tenant: DHL AIFM VII, s.r.o. tenant: Tchibo AIFM VI, s.r.o. tenant: Saint Gobain AIFM VIII, s.r.o. tenant: Panalpina AIFM XV, s.r.o. tenant: Real Digital AIFM IX, s.r.o. tenant: Raben AIFM XVI, s.r.o. tenant: Raben AIFM X, s.r.o. tenant: KION Group AIFM XII, s.r.o. tenant: Assa Abloy AIFM PL I sp. z o.o. Bydgoszcz tenant: DPD, Oponeo, Röhlig, Chep Polska AIFM XI, s.r.o. tenant: DHL AIFM XIII, s.r.o. tenant: IAC Group AIFM XIV, s.r.o. tenant: DHL, T.F.S. International LU GE XVII S.a r.l. Alsdorf tenant: Dachser AIFM PL IV sp. z o.o. Szczecin tenant: DHL, Party Deco, Rohlig, AutoDoc AIFM PL IX sp. z o.o. Lublin tenant: Spizarnia, Cega, Eurocash, Röhlig, Ruch, DD Pack, Inter Cars, Miracle, TEDI Dystry- bucja, Data Modul, Farutex, Iglo- tex, Specjal, Fibrain, Laboratoria Natury, Multivac, FedEx AIFM PL II sp. z o.o. Szczecin tenant: Pierce, Svendsen Sport, Change, DSV, Inter Cars, Advansor, AutoDoc, Cotes AIFM PL III sp. z o.o. Bydgoszcz tenant: Oponeo, Schenker, Röhlig, Sims Recycling AIFM PL VII sp. z o.o. Kielce tenant: Raben, Pekaes, Vive AIFM PL X sp. z o.o. Legnica tenant: Gates AIFM PL V sp. z o.o. Zielona Gora tenant: REAC, Fiege, Eobuwie, Pekaes, Swiss Krono, Iveco, Expondo AIFM PL VI sp. z o.o. Białystok tenant: Distribev Orbico, Röhlig Pekaes, Farutex, InterCars, Glosel, Pilkington, DPD, Poczta Polska

WHY TO INVEST WITH ACCOLADE?

• expected return on investment for shareholders of more than 7% p. a.
• upon acquisition, the property is 100% leased and generates revenue
• average lease term is approximately 6 years per sq m
• lease payments guaranteed by security deposits, or by bank, parent or subsidiary company
• conservative strategy based solely on lease payments, we don´t speculate on real estate price
• minimum investment EUR 75,000 (CZK 2 mil.)
• payout of shares not earlier than after 5 years
• transparent fee structure
• valuation four times a year

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INDUSTRIAL REAL ESTATE CONTINUES TO BE A GREAT INVESTMENT OPPORTUNITY

PERFORMANCE OF ACCOLADE FUND

1 If not stated otherwise, the information is related to the institucional share classes (ISIN MT7000014932 a MT7000014940) 2 Series initial offering March 31, 2017 3 Series initial offering June 30, 2017 4 % change in relation to previous quarter

PERFORMANCE OF SHARES 1 FROM APRIL 1, 2019 TO JUNE 30, 2020

12.77%

SHARE IN CZ

9.73%

SHARES IN EUR

PERFORMANCE OF (NAV)

ACCOLADE INDUSTRIAL FUND SHARE PRICE (Launched 30th September 2014)

SERIES TYPE / VALUATION DATE 30.9.2014 10.12.2015 31.12.2016 31.12.2017 31.12.2018 30.9.20194 31.12.2019 31.3.2020 30.6.2020 Lead Series A - CZK (ISIN MT7000014932) 100 121.0714 133.5304 152.3594 166.8153 179.3466 183.1897 194.1399 197.5299 Lead Series A - CZK (% change) 0% 21.07% 10.29% 14.10% 9.49% 2.39% 2.14% 5.98% 1.75% Lead Series A2 - CZK (ISIN MT7000018404) 151.8049 165.4054 177.0302 180.6050 191.1239 194.2262 Lead Series A2 - CZK (% change) 11.02%² 8.96% 2.27% 2.02% 5.82% 1.62% Lead Series B - EUR (ISIN MT7000014940) 100 123.4895 136.2890 160.6307 176.8774 189.0880 193.9304 198.5672 203.5724 Lead Series B - EUR (% change) 0% 23.49% 10.36% 17.86% 10.11% 1.92% 2.56% 2.39% 2.52% Lead Series B2 - EUR (ISIN MT7000018412) 160.2418 175.5966 186.8682 191.4217 195.7614 200.4530 Lead Series B2 - EUR (% change) 3.10% 3 9.58% 1.80% 2.44% 2.27% 2.40%

20 40 60 80 100 120 140 160 180 200 220 240 260 280

2.7 13 25.4 35.4 69.7 94.5 120.9 152.9 181.9 215.7 237.3 245.7

30.9. 2014 30.6. 2015 10.12. 2015 30.6. 2016 31.12. 2016 30.6. 2017 31.12. 2017 30.6. 2018 31.12. 2018 30.6. 2019 31.12. 2019 30.6. 2020 1.7. 2020 (estimate)

NAV (million EUR)

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ACCOLADE INDUSTRIAL FUND POTENTIAL FUTURE PROJECTS

CZECH REPUBLIC, POLAND, GERMANY, SLOVAKIA

SZCZECIN CHEB KIELCE BYDGOSZCZ II CZĘSTOCHOWA LEGNICA AIRPORT PARK MIŃSK MAZOWIECKI KOŠICE BOCHUM ZIELONA GORA CHEB CHEB SOUTH

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KEY PERSONNEL

MILAN KRATINA Co-founder of Accolade Fund – chairman of the Board, Accolade Fund SICAV plc and Accolade Investment Company Ltd. – member of the Investment Committee, Accolade Investment Company Ltd. ZDENĚK ŠOUSTAL Co-founder of Accolade Fund – member of the Board, Accolade Investment Company Ltd. CHRIS CASAPINTA Member of the Board, Accolade Fund SICAV plc – director of Alter Domus (Services) Malta Limited since 2010 – over 10 years experience in audit and financial advisory JOSEPH FALZON Member of the Board, Accolade Investment Company Ltd.

• professor with Ph.D. degree in economics from

Northwestern University in Evanston, Illinois, U.S.A.

• author of several local and foreign publications on the

Maltese economy

• served as a consultant to several Maltese organizations

MICHAŁ BIAŁAS Member of the Board, Accolade Fund SICAV plc Member of the Investment Committee, Accolade Investment Company Ltd.

• responsible for management of Polish projects,

ensures fjnancing of new developments

• over 7 years experience in Bank Santander in fjnancing

commercial real estate STEVEN TEDESCO Member of the Investment Committee, Accolade Investment Company Ltd.

• more than 20 years experience in the Asset

Management sector

• managed portfolio exceeding EUR 1 billion
• chartered Fellow of the Chartered Intitute for

Securities & Investment

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KEY PERSONNEL

SANDRO BARTOLI Member of the Board, Accolade Investment Company Ltd.

• in the investment services business since 1997
• in 2000 set up Quest Investment Services Ltd. an

independent financial advisory company

• qualified investment adviser obtaining the Certificate

for Financial Advisers (CeFA) and various other certificates in compliance and anti-money laundering MARK GUILLAUMIER Member of the Board, Accolade Investment Company Ltd.

• 40 years working career in fjnancial sector
• in 2001–2010 Chief Executive of Malta Stock Exchange
• Senior Advisor to the Maltese Ministry of Finance

and represented Malta on the Financial Services Committee (FSC) of the European Commission in Brussels PETR POSKER Member of the Investment Committee, Accolade Investment Company Ltd.

• portfolio Manager with 20 years experience in various

companies (e.g. Atlantik Asset Management or ABN AMRO Asset Management)

• member of the CFA Institute since 1999

MALCOLM ST. JOHN Member of the Board, Accolade Fund SICAV plc – certified Public Accountant with 18 years of experience in the financial services industry holding various senior roles – over 15 years work history in Fund administration including HSBC and Apex Fund Services

• ACCA completed in 2008

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OUR EXTERNAL PARTNERS

PROPERTY VALUATION TAX ADVISORY FUND ADMINISTRATION ACCOUNTING AUDIT

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ACCOLADE FUND SICAV p.l.c. Vision Exchange Building Territorials Street, Zone 1, Central Business District, Birkirkara CBD 1070 Malta ALTER DOMUS Vision Exchange Building Territorials Street, Zone 1, Central Business District, Birkirkara CBD 1070 Malta

info@accolade.eu +420 220 303 019 www.accolade.eu