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Aktsiaselts Infortar subsidiary OÜ Infortar Agro (hereinafter “Infortar Agro”) and AB Invalda INVL indirectly through UAB Cedus Invest, Gintaras Kateiva and Adomas Grigaitis (hereinafter the “Seller”) entered into an agreement on 7 September 2026, in which the Seller will sell to Infortar Agro 100% of the shares in its Lithuanian subsidiary UAB Litagra (“Litagra”).

Litagra is a Lithuanian agricultural group established in 1991. Its activities include dairy and crop farming, poultry farming, feed production and other agriculture-related activities.  The Litagra Group includes UAB Joniškio Grūdai, UAB Litagros Žemės Ūkio Centras and Agrohold Estonia OÜ, all of which are wholly owned by UAB Litagra. In addition to Litagra UAB, the Litagra Group comprises 34 companies. The structure of the acquired companies is attached to this announcement.

The transaction expands Infortar’s agricultural operations into Lithuania. Once the transaction is completed, the farms owned by the group will have a total of 16,600 animals, annual milk production will reach 93,000 tonnes and the total area of farmland will increase to 23,000 hectares. Poultry farming, including turkey and broiler farms, will become a new area of activity.

“Estonia and Lithuania have historically been agricultural countries. Our latitude and climate are well suited to milk production, our cows are among the highest-yielding in Europe, and our farms are among the most modern. Milk is one of our most important natural resources. By increasing production, it could become an important export product and strengthen our position in international markets,” said Ain Hanschmidt, CEO of Infortar.

“We have been operating in Lithuania for eight years. During that time, we have experienced an investor-friendly business environment and benefited from the country’s economic growth. Agriculture is highly valued in Lithuania, and both performance and productivity are strong. This is why we decided to make one of Estonia’s largest foreign investments in Lithuanian agriculture and acquire a well-established company with a long history,” said Martti Talgre, Managing Director of Infortar.

For Litagra’s founders and management, the transaction marks the next stage in the group’s development.

 “Over the past 35 years, what began as a business from the ground up has grown into a strong group of companies with an experienced team, solid operations and significant potential for further growth. Invalda INVL, which joined us in 2011, became an important part of this stage of growth. We are now taking the next step, with Litagra welcoming a strong strategic investor with a long-term perspective, the resources to grow and, importantly for us, a strong understanding of the agricultural sector,” Gintaras Kateiva said.

Invalda INVL, which has been a shareholder since 2011, said the transaction confirms the value created in the company and marks the completion of a successful investment cycle.

“Fifteen years ago, we invested in Litagra with the ambition of building a competitive company operating in high-value, profitable segments of the food and agriculture industry. Over the years, we consistently invested in dairy and poultry production, expanded into new businesses and exited activities that no longer fit our strategy.

We are grateful to the company’s founder, Gintaras Kateiva, our fellow investors throughout this journey, and the entire Litagra team, whose dedication and professionalism helped build the company into what it is today. Throughout all the years of our work together, Litagra has consistently grown and created value for Invalda INVL and other shareholders. We believe we have achieved the objectives we set when we made this investment, and the time has now come to redirect capital and focus to new opportunities pursued together with our investors through INVL-managed funds, in line with Invalda INVL’s business model.

 We are pleased to pass Litagra to a professional owner with a deep understanding of the business. We are confident the company will continue supplying high-quality products to the food and agriculture sectors, remain an excellent place to work, and continue creating value for its stakeholders across the Baltic region,” said Darius Šulnis, CEO of Invalda INVL.

“We were looking for a partner that would recognise the potential of Litagra’s businesses, be committed to developing them further and have the resources to do so. Infortar’s approach to our businesses, our team and their future matched what we were looking for. It is especially important to us that they value the current management and specialist team, as well as the expertise built up across the Group over many years. We therefore see this transaction as a natural continuation of Litagra Group’s story,” said Evaldas Matulis, CEO of Litagra.

Litagra’s current management will continue company´s day-to-day operations, and Infortar does not plan any significant changes to the company´s existing activities as a result of the transaction. Completion of the transaction is subject to obtaining consent from government authorities and the fulfilment of other customary conditions precedent.

The Litagra Group employs almost 400 people. As at the end of 2025, the Group’s consolidated revenue was €EUR 69 million and EBITDA was €EUR 14.5 million. The Group has a total of 10,500 hectares of arable land.

Litagra’s subsidiary UAB Sūduvos Ūkis, which is wholly owned by UAB Joniškio Grūdai, is the largest turkey farming company in the Baltic States. The company operates six production sites comprising a total of 29 modern barns.

In addition, the Group operates broiler production facilities with capacity for approximately 360,000 broilers per production cycle. The poultry operations are supported by the Group company UAB Joniškio Grūdai, which produced 69,000 tonnes of compound feed and related products in 2025, including protein, vitamin and mineral supplements, premixes, baits and pet food.

Litagra’s subsidiary UAB Litagros Žemės Ūkio Centras (LŽŪC) is the third-largest dairy farming company in Lithuania by herd size. The company operates eight farms and focuses on high-yield dairy production and crop farming. Its dairy herd comprises approximately 8,300 cows and young cattle, and it produces an average of 35,000 tonnes of raw milk per year.

The transaction is not considered as a transaction beyond everyday economic activities or a transaction of a significant importance, nor it is regarded as a transaction with related persons, under the "Requirements for Issuers" section of the NASDAQ Tallinn Stock Exchange rules. The transaction does not have a significant impact on Aktsiaselts Infortar's activities. The members of the Supervisory Board and the Management Board of Aktsiaselts Infortar have no personal interest in the transaction in any other way.

Infortar operates in seven countries, the company's main fields of activity are maritime transport, energy and real estate. Infortar owns a 68.76% stake in Tallink Grupp, a 100% share in Elenger Grupp and a versatile and modern real estate portfolio of approx. 141,000 m2. In addition to the three main areas of activity, Infortar also operates in construction and mineral resources, agriculture, printing, and other areas. A total of 107 companies belong to the Infortar group, including 3 associates and 2 subsidiaries of associates. Infortar employs 6890 people.

Additional information:

Kadri Laanvee
Investor Relations Manager
Phone: +372 5156662
e-mail: [email protected]
www.infortar.ee/en/investor