Aluksnes Putnu Ferma installs its own solar park

SIA Aluksnes Putnu Ferma, a company of the JSC APF Holdings (hereinafter - APF)
group of companies, has started the installation of its own solar park. The
park is currently undergoing installation works and will have a capacity of 250
kWp when put into operation, which will be provided by 384 solar panels. The
total investment in the solar park is more than €240,000. 

The solar park will provide electricity for all the existing chicken houses
(coops) at Aluksnes Putnu Ferma during the summer months, and will cover 25% of
the company's total energy consumption. The project is being implemented by the
energy company Ignitis Latvija. 

"APF Holdings is currently carrying out an initial public offering and I think
having our own solar park is an additional argument for investors to get
involved in the future growth of our company. Renewable energy is important to
us not only to reduce farm costs, but also because we are building APF into a
fully circular economy company - one that generates its own energy, recycles
waste from the production process and cares for animal welfare. Sustainability
is and will be an increasingly important factor for egg buyers not only in
Latvia, but also in our export markets in Europe, and producing our own energy
is part of our ESG strategy, or environment social and corporate governance
strategy," says Jurijs Adamovics, chairman of the board of JSC APF Holdings. 

It is planned that the solar park will be put into operation at the end of this
year. 

There is ongoing Initial Public Offering (IPO) of APF shares that will last
until October 30. In total, 1,027,930 new shares will be offered for
investments with the rights to increase this number with 103,000 additional
shares, thus, the overall number of shares offered is 1,130,930. 

The goal of IPO is to raise EUR 7 million. According to IPO, APF plans to
significantly expand its operations and by 2025 increase egg production by 60
percent and more than double its revenue from about EUR 11 million in 2022 up
to EUR 25 million in 2025. With the help of IPO investors and further financing
from the banks, APF plans to build two more hen houses in the addition to the
current three and expand the capacity of the production support infrastructure.
This will allow an increase in egg production from 115 million per year to 180
million per year and an increase in the number of laying hens to 665,000. In
addition, APF plans to start egg processing with new equipment in order to
create modern and healthy egg products. 

APF is being advised by Latvia's leading investment bank Signet Bank on
financial matters in connection with the planned IPO, while the sales agent in
Estonia is JSC LHV Pank. The company is advised by Eversheds Sutherland Bitans
on legal matters. Listing of APF shares on Nasdaq alternative market First
North is planned on November 3 or shortly after that date. 

JSC APF Holdings was founded in 2017 by Jurijs Adamovics to take over and
modernize a 60-year-old poultry facility based in Aluksne. Today, JSC APF
Holdings comprises a group of companies involved in poultry farming, chicken
egg production and marketing, as well as production of gas and organic
fertilizers as part of its poultry business. The group is made up of SIA
Aluksnes Putnu Ferma (poultry farming and egg production), SIA APF Trading
(wholesale trade in chicken eggs), SIA Oluksne (poultry farming and egg
production services), SIA APF Energy (production of gas and organic
fertilizers), and SIA Preilu Putni (poultry farming, rearing farm). Jurijs
Adamovics is the largest shareholder in APF Holdings. 

Disclaimer: This announcement constitutes unpaid marketing communication under
the Prospectus Regulation and does not constitute investment advice or offer.
The information contained herein contains general forward-looking statements
about AS APF Holdings' intention to make an initial public offering of its
shares. Each investment decision should be made on the basis of a Prospectus
approved by the Bank of Latvia. The approved Prospectus is published on the
website of the Bank of Latvia (https://bank.lv/). 


     Additional information:
     Jana Garanca
     Head of Marketing and Digital Projects
     APF Holdings
     M: + 371 26408922
     E: [e-mail]