Investor presentation Filago AS Januar 2018
Introduction Filago Group Established in 2012 Filago has projects that builds a new green society, through new technology and sustainable business driven by environmental concerns Filago creates value by being involved in ALL aspects of property development including zoning, architecture, marketing and the whole building process to the handover of turnkey-finished houses In 2016 Filago finished construction phase 1 of Norway s first full scale Ecovillage in Hurdal with 64 homes sold, built and delivered Filago is closely collaborating with both municipalities and government to zone new land for Ecovillageprojects Filago has a project pipeline that is likely to lead to new projects in attractive areas around and in urban Oslo, in addition to other major cities Ecovillages Aktivhus Property zoning
Filago Group Overview Filago AS Hurdalssjøen Økologiske Landsby SA 100 % 100% Fremtidssmia Økologiske Næringssenter AS 100 % Aktivhus Hurdal AS Aktivhus Entreprenør AS 100 % 70 % 100 % Stilla Utvikling AS Aktivhus AS 100 % Filago Prosjekt Holding 1 AS 100 % 100 % 100 % Hurdalssjøen Økologiske Landsby SA The farm in Hurdal on which the village is situated Fremtidssmia Økologiske Næringssenter AS The local sustainability business centre Aktivhus Hurdal AS Development company for phase 1 in Hurdal Aktivhus Entreprenør AS Filago s housing contractor for Hurdal 1 Stilla Utvikling AS Development company Aktivhus AS Aktivhus concept and brand owner Filago Hurdal AS Filago Gran AS Filago Tjøme AS
Filago Prosjekt Holding s Portfolio of Property Gran, Hadeland: Just over 1 hour s commuting to Oslo Close to Jaren railroad station 130 000 m² of land Planned to build approx. 180 units Tjøme: 1 hour and 30 minutes drive to Oslo 20 minutes drive to Tønsberg (rail road) 45 000 m² of land Planned to build approx. 100 units Hurdal 2: 1 hour s commuting to Oslo 25 minutes drive to Oslo Airport 52 000 m² of land Planned to build approx. 120 units Oslo
Hurdal The property area is divided into 5 different residential plots First plot fully developed with 64 residences, completed and sold in 2016 (phase 1) The four remaining plots have a potential of approximately 120 residences with a total area of 10 000m 2 Application for building permit is submitted for all four remaining plots and is expected approved shortly Expected construction start in Q1 2018 Estimated revenue of NOK 430m with expected project profit of NOK 65m New plots Plot 1 Fully developed Detailed plans for 4 new plots
Tjøme The project consists of three properties at Ormlet on Tjøme The plan is to build approx. 30-35 residential units per property School, nursery school, sports arenas and recreational areas in the immediate vicinity All three properties are residential areas in the municipal master plan. The zoning plan is expected to be approved in 2018 with submission of application for building permit expected in Q3 2018 Expected construction start for Tjøme 1 in Q4 2018, while the remaining two plots expect to have startup in 2019 Expected sales revenue of NOK 440m with expected project profit of NOK 65m Tjøme 1 Tjøme 2 Tjøme 3
Gran Located at Jaren in Gran municipality, Hadeland Gran consists of two adjoining properties; Rognekollen Nord (north) and Rognekollen Sør (south), with a potential of 180 residences (15 000 m 2 ) Rognekollen Sør is zoned and application for building permit is planned to be submitted in Q2 2018 with construction start in Q1 2019 Rognekollen Nord is residential area in the municipal master plan. The zoning plan is expected to be approved in 2018 with application for building permit expected in 2019 Expected sales revenue of NOK 680m with expected project profit of NOK 102m Rognekollen sør
Management Bård Hauge CEO Filago AS Journeyman Carpenter 20 years of experience from management positions within industry Previously Corporate Supply Director with Aker Solutions and Sales and Marketing director at Brødrene Dahl Trygve Strand, CFO Filago AS Siviløkonom/MSc from BI Experience from Finance and Group Treasury in Telenor ASA and REC ASA Background as financial auditor KPMG Helge Lund-Roland, Owner and board member Architect from NTH 17 years of experience from real estate development from idea to implementation Previous experience from Profier Gruppen AS Pål Lund-Roland, Owner MSc Norwegian School of Economics and Business Administration 25 years of experience with conceptual and industrial real estate development Co-founder of Profier Gruppen AS Geir Svendsen Project Director Filago Civil Engineer from NTNU Wide experience (34 years) from industrial business areas Management experience from large energy projects and pulp/paper industry Rolf Jacobsen - Architect Architect from AHO Expert in sustainable real estate planning and development 30 years experience as a project architect Established Gaia Architects (1985) and Aktivhus (2009)
Main Shareholder of Filago - Mamatoto AS Mamatoto s board and management have experience from Orkla, Nordic Capital, Profier gruppen and Estatia Total asset of NOK 208m and equity/shareholder loan of a total of NOK 96m Mamatoto is focused mainly on commercial real estate Mamatoto is owned 50/50 by Rygh and Lund-Roland Mamatoto owns 68.3% of Filago AS The ultimate owners Tom Vidar Rygh Chairman Pål Lund-Roland CEO Rental apartments, Kirkenes Grocery store, Kirkenes Tom Vidar has worked within Finance and Industry for more than 30 years. Over the last twenty years he has, amongst other activities, directed financial activities of Orkla ASA, was CEO of Enskilda Securities AB and been partner in Nordic Capital. He has been Chairman or a member of a wide range of Boards such as Telenor ASA, Oslo Stock Exchange and Storebrand ASA. Pål has worked 25 years with conceptual and industrial real estate development. Over the last twenty years he has costarted the Profier Gruppen AS and the Estatia Group Pål has a Master Degree in Business Administration from the Norwegian School of Economics and Business Administration. Tom has a Master Degree in Business from the Norwegian School of Economics and Business Administration. Hurdal Eco Village
Business Model Filago holds the reins in the projects from start to finish; from zoning, concept development, concept visualization, project development and all the way to delivery of a finished in-house developed Aktivhus Project search Project development and zoning Project initiation Sales and marketing Construction phase Delivery of homes (Property zoning while held by Filago) (Property sold to the project subsidiary) (Property divided and sold to end users) Increasing land values Filago is working closely with municipalities and private owners to find, regulate and develop suitable properties Municipalities are supportive to the environmental friendly development concept In all processes Filago seeks to create an attractive project for both the residents and for the community as a whole, serving as a mean to help facilitating the green shift Conceptual, repetitive real estate development Filago either owns 100% or is the majority owner of the property development projects The value chain is controlled through partners and subsidiaries that are developing, initiating and constructing the projects Targeted project-margin is 15% Delivery of Aktivhus to Filago projects and to external customers Filago has developed and owns their own brand of environmentally friendly houses called Aktivhus. Filago is now developing a scalable delivery system for the houses Aktivhus is a house built almost entirely of natural materials and is «self breathing» and naturally ventilated Filago will continue developing, delivering and maintaining the brand value of Aktivhus and its technology
Aktivhus Registered Trademark Since 2009 Aktivhus consists almost entirely of natural materials, and is recommended by The Norwegian Asthma and Allergy Association Low maintenance external siding minimizes the need to use chemicals during the home s lifespan Ventilation systems using manually controlled fresh air channels, as an alternative to standard methods of mechanical ventilation Solutions, pricing and delivery verified through the R&D done in the construction phase one in Hurdal Eco Village Upgraded and improved solutions ready for implementation in phase two
Filago s Existing Portfolio of Other Projects Tromsø: A suitable lot has been identified together with the local municipality Estimated start: 2020 Skytterhustunet, Kirkenes: Zoned for housing Planned approx. 3500 m 2 housing with 50 dwellings Estimated start : 2018 Bærum: A suitable lot has been identified together with the local municipality Approx.: 180-240 dwellings Estimated start: 2019 Asker: A suitable lot has been identified together with the local municipality Estimated start: 2019 Eidsverket, Bjørkelangen: Planned built about approx. 9 000 m 2 housing Estimated start : 2019 Nesodden: 15 minute ferry-ride from Aker Brygge, down town Oslo Full scale Eco Village. Approx. 300 000 m 2 land 20-30 000 m 2 of housing with about 250 400 dwellings Estimated start.: 2020 Oslo: A suitable lot has been identified with the local municipality for a pilot project in he city center Estimated start: 2019
Appendix
Filago Ownership Shareholder Share % Mamatoto AS 68.26 % Mamatoto owned by Tom-Vidar Rygh and Pål Lund-Roland HLR Invest AS is Helge Lund-Roland HLR Invest AS 10.23 % Ulven Investment AS 7.67 % Win-Win AS 6.17 % Likida Invest AS 3.98 % Gunnbjørn Gulliksen 2.21 % 32 56 Mahendra Shah 1.47% Total 100.0 %