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

May 2020

PRESENTATION ACCOLADE INDUSTRIAL FUND

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

CZ PL DE

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

year

Czech Republic Germany Poland

5.00% 5.25% 4.25% 3.25% 5.75% 5.25% 4.25%

3.60% 4.25% 2.60%

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

• epublika

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INDUSTRIAL PROPERTIES MARKET CZECH REPUBLIC

• Total stock of modern A-class warehouse and industrial properties is 8.62 million sq m.
• Net efgective rent ranges between EUR 3.50-4.50 per sq m per month.
• Average lease transaction size is 5,800 sq m.

VACANCY 1Q 2020 INDUSTRIAL BUILDINGS: 5.52% OFFICES: 5.40%

Source: CBRE

100 200 300 400 500 600 700 800 900 1 000 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Q1

829 744 448 198 258 213 282 359 568 501 662 735 623 210 210

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

NEW PROPERTIES

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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 18.86 million sq m.

• Net efgective rent ranges between EUR 2.00-4.70 per sq m per month.

VACANCY 1Q 2020 INDUSTRIAL BUILDINGS: 7.14% OFFICES: 8.44%

source: CBRE

NEW PROPERTIES

500 1,000 1,500 2,000 2,500 3 000 3 500 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Q1

926 242 355 416 304 1,062 980 1,122 2,270 2,177 2,717 430

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INDUSTRIAL PROPERTIES MARKET GERMANY

• Total stock of modern A-class warehouse and industrial properties is 81.00 million sqm.
• Net efgective rent ranges between EUR 3.80-7.15 per sq m per month.

OFFICES: 3.40%

source: CBRE

INDUSTRIAL PARK ALSDORF, GERMANY

VACANCY 1Q 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 NEEDS OF SUPPLIERS AND CONSUMERS SUFFICIENT NUMBER AND HIGH QUALITY OF WORKFORCE

POSITION IS THE KEY

INDUSTRIAL PARK CHEB, CZECH REPUBLIC

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MODER INDUSTRIAL PARKS FOR SUSTAINABLE FUTURE

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

BREEAM OUTSTANDING EXCELLENT VERY GOOD GOOD TOTAL BREEAM — FINISHED PROJECTS / 11,153 sq m 239,767 sq m 415,287 sq m 666,207 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 FOR US PRIORITY.

In addition to creating new locations, the Fund’s long-term goal is to revitalize existing brownfjelds. Brownfjelds overall accounts for nearly 40 percent of the Fund’s portfolio, in Poland alone it is almost half.

ACCOLADE INDUSTRIAL FUND

ALSDORF ZIELONA GÓRA ZIELONA GÓRA SZCZECIN SZCZECIN BYDGOSZCZ LUBLIN PAVLOV TÝNIŠTĚ NAD ORLICÍ PŘEŠTICE HOŘOVICE CHEB II CHEB

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LEGNICA KIELCE BIAŁYSTOK

PARKS IN ACCOLADE INDUSTRIAL FUND

PARKS IN THE FUND PARKS IN PROCESS STŘÍBRO STŘÍBRO

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OUR PARKS CZECH REPUBLIC, POLAND , GERMANY

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

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ZIELONA GORA CHEB II 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 IN PROCESS

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OUR FUND IN NUMBERS

expected return p.a. tenants investors industrial parks ACCOLADE INDUSTRIAL FUND INVESTMENTS AS OF 31.3.2020 EUR: 38.999 million: annual revenue from lease agreements EUR: 574.073 million: total value of Accolade Industrial Fund 790,252 sq m: gross leasable area ESTIMATED VALUE OF ACCOLADE INDUSTRIAL FUND INVESTMENTS WITH THE POTENTIAL PROJECTS AS OF 31.3.2022 EUR 64.698 million: annual revenue from lease agreements EUR 962.905 million: total value of Accolade Industrial Fund 1,306,672 sq m: gross leasable area

+7%

EXPECTED RETURN p.a.

7% 59 943 14

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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 21,430,000 € 34,780 6-10 years 6.00 Park Cheb Czech Republic 101,860,000 € 147,227 5-15 years 4.84 Park Stříbro Czech Republic 93,634,000 € 111,484 7-17 years 8.74 Park Pavlov Czech Republic 8,230,000 € 11,149 5 years 1.63 Park Týniště nad Orlicí Czech Republic 8,520,000 € 9,783 10 years 7.66 Park Přeštice Czech Republic 16,600,000 € 14,015 16 years 14.42 Park Szczecin Poland 96,520,000 € 147,694 2-11 years 13.73 Park Bydgoszcz Poland 31,510,000 € 50,109 3-6 years 1.90 Park Zielona Gora Poland 56,370,000 € 81,224 3-10 years 4.92 Park Lublin Poland 53,444,000 € 73,478 4-10 years 5.12 Park Kielce Poland 26,440,000 € 36,313 7-10 years 8.80 Park Bialystok Poland 31,630,000 € 42,188 3-10 years 5.34 Park Legnica Poland 19,830,000 € 23,294 10 years 9.33 Park Alsdorf Germany 8,055,000 € 7,512 10 years 9.34

TOTAL 574,073,000 € 790,252 6.24 55.76% LOCATION ASSUMED ACQUISITION COUNTRY VALUATION GLA (sq m) LEASE TERM WAULT LTV

B – projects in process Park Cheb II 2Q 2020 Czech Republic 20,100,000 € 27,376 10 years 10,00 Park Stříbro (expansion) 2Q 2020 Czech Republic 12,500,000 € 11,714 10 years 10.00 Park Cheb (expansion) 3Q 2020 Czech Republic 12,700,000 € 12,898 10 years 10.00 Park Stříbro (expansion) 3Q 2020 Czech Republic 25,000,000 € 25,585 30 years 30.00 Park Szczecin (expansion) 3Q 2020 Poland 15,600,000 € 24,035 5 years 5.00 Park Zielona Gora (expansion) 3Q 2020 Poland 12,750,000 € 11,626 5-7 years 6.65

TOTAL 98,650,000 € 113,234 12.70 70.00%

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ACCOLADE INDUSTRIAL FUND

BANK FINANCING 320.110 mil. EUR TOTAL LEASED-UP AREA 790,252 SQ M

% share of industries in leased-up area

RENTAL ANNUAL INCOME OF 38.999 mil. EUR

% share of tenants in rental annual income

ANNUAL RENTAL INCOME OF 574.073 mil. EUR

Santander 24.6% 18.5% 13.5% 19.2% 15.3% 7.5% 1.4% UniCredit Erste Bank mBank Pekao ČSOB Sparkasse E-commerce 28.4% 13.4% 9.9% 27.5% 12.6% 7.6% 0.3% 0.3% Engineering Logistics Retail Automotive Eletrical IT recycling Plastic piping DHL 10.2% 6.6% 4.4% 3.3% 8.0% 4.4% 4.1% 3.1% 3.7% 3.1% 3.4% 45.7% Pierce KION Group Assa Abloy Oponeo Tchibo Expondo Gates Raben Vive ABC Autoparts Others Poland 55.0% 1.4% 43.6% Czech Republic Germany

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ORGANIGRAM ACCOLADE INDUSTRIAL FUND

90% V

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

100%

Industrial Fund Malta

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

5.59% 94.41%

companies with a tenant empty companies

POLAND CZECH REPUBLIC GERMANY

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. tenans: 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 IX, 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, Poland tenants: 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 tenans: DHL, T.F.S. International

Zdeněk Šoustal 50% Milan Kratina 50%

LU GE XVII Sarl. Alsdorf, Germany tenant: Dachser AIFM PL IV sp. z o.o. Szczecin, Poland tenants: DHL, Party Deco, Rohlig, AutoDoc AIFM PL IX sp. z o.o. Lublin, Poland tenants: 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, Poland tenants: Pierce, Svendsen Sport, Change, DSV, Inter Cars, Advansor, AutoDoc, Cotes AIFM PL III sp. z o.o. Bydgoszcz, Poland tenants: Oponeo, Schenker, Röh- lig, Sims Recycling AIFM PL VII sp. z o.o. Kielce, Poland tenants: Raben, Pekaes, Vive AIFM PL X sp. z o.o. Legnica, Poland tenant: Gates AIFM PL V sp. z o.o. Zielona Gora, Poland tenants: REAC, Fiege, Eobuwie, Pekaes, Swiss Krono, Iveco, Expondo AIFM PL VI sp. z o.o. Białystok, Poland tenants: Distribev Orbico, Röhlig Pekaes, Farutex, InterCars, Glosel, Pilkington, DPD, Poczta Polska

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

100% 100%

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 6.2 years per sq m
• Lease payments guaranteed by security deposits, or by bank, parent or subsidiary company
• Conservative strategy based solely on lease payments, not on speculation of increase in price of the buildings
• 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 31.3.2017 3 Series initial offering 30.6.2017 4 % change in relation to previous quarter

PERFORMANCE OF SHARES 1 FROM 1.4.2019 TO 31.3.2020

13.94%

SHARES CZK

10.25%

SHARES EUR 20 40 60 80 100 120 140 160 180 200 220 240 260 280 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 31.3. 2020 1.4. 2020 (estimate)

2.7 13 25.4 35.4 69.7 94.5 120.9 152.9 181.9 215.7 222.7 229.7

NAV (million 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 30.6.20194 30.9.2019 31.12.2019 31.03.2020 Lead Series A - CZK (ISIN MT7000014932) 100 121.0714 133.5304 152.3594 166.8153 175.1565 179.3466 183.1897 194.1399 Lead Series A - CZK (% change) 0% 21.07% 10.29% 14.10% 9.49% 2.80% 2.39% 2.14% 5.98% Lead Series A2 - CZK (ISIN MT7000018404) 151.8049 165.4054 173.1005 177.0302 180.6050 191.1239 Lead Series A2 - CZK (% change) 11.02% ² 8.96% 2.61% 2.27% 2.02% 5.82% Lead Series B - EUR (ISIN MT7000014940) 100 123.4895 136.2890 160.6307 176.8774 185.5279 189.0880 193.9304 198.5672 Lead Series B - EUR (% change) 0% 23.49% 10.36% 17.86% 10.11% 3.01% 1.92% 2.56% 2.39% Lead Series B2 - EUR (ISIN MT7000018412) 160.2418 175.5966 183.5718 186.8682 191.4217 195.7614 Lead Series B2 - EUR (% change) 3.10% 3 9.58% 2.82% 1.80% 2.44% 2.27%

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ACCOLADE INDUSTRIAL FUND POTENTIAL FUTURE PROJECTS

CZECH REPUBLIC, POLAND, GERMANY, SLOVAKIA

SZCZECIN CHEB KIELCE BYDGOSZCZ II CZĘSTOCHOWA LEGNICA II MINSK MAZOWIECKI KOŠICE BOCHUM ZIELONA GORA

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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 and of

numerous papers 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 project, Poland,

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