INVESTOR

PRESENTATION
The leading cross-border marketplace for short-term
property-backed loans in continental Europe
 01 Executive overview 04 Market opportunity
• Intro to EstateGuru
• EstateGuru Credit
Fund

02 EstateGuru
• EstateGuru
• Management and
Table Of Shareholders
• Overview of platform
Content • Track record

03 Investment process
• Sourcing of loans
• Loan process
• Risk management
• ESG

2
Executive Overview. ESTATEGURU
Originated
EstateGuru is the leading European digital investment platform for short-term property backed
loans. The company focuses on delivering sustainable investment returns with strong EUR 426 million
downside protection.

Interest paid out

OPERATING IN FOLLOWING AREAS: COMPANY’S DIFFERENTIATING FACTORS ARE:
EUR 30 million
Access to underserved parts of the real estate loan
Bridge Financing
market as well as covering underserved regions,
Weighted average interest
“short-term real estate loans that provide necessary both normally out of reach to investors;
(unlevered)
capital until a permanent financing has become
available” 11%
Downside protection through first ranking security
Business Loans (real estate), strong credit analysis and financial Cumulative loss of capital
covenants;
“capital for day-to-day activities, working capital, 0%
business expansion, acquisition of equipment or
goods” Proprietary state-of-the-art technology enabling 1)
digital asset origination and Team
2) an efficient, scalable borrower and investor
experience;
90 people
Development Loans

“used to develop the property, that ranges from Loans in

Experienced management team with deep
construction works to area infrastructure”
expertise in property finance marketplace. 9 countries
ESTATEGURU.
The Company
 Who is. ESTATEGURU
Established in 2013, EstateGuru (“EG”) is the leading European FinTech investment platform for short-term property backed loans
which operates in eight countries. The company focuses on delivering sustainable investment returns with strong downside
protection.
• Comprehensive offering (bridge financing, financing capex, acquisitions, buyouts etc.) for SMEs combined with a swift
underwriting process and fast access to capital

• Local knowledge with a deep understanding of property market dynamics

• Experience across the region (front office, legal frameworks, risk management)

Mission Vision Values

To offer property financing and investing
solutions through a single marketplace for
both individuals and businesses globally
To make property financing and investing
attainable for anyone, anywhere in the
world.
The cornerstones of EstateGuru’s ethos
and value system are honesty and
integrity. We are open about all the risks
that accompany our business model.
We consider it our duty to also minimize
and mitigate environmental,
social and governance risks.

5
 ESTATEGURU. Loan Products
Business loans
Description Business loan is used to raise capital for
day-to-day activities, working capital,
business expansion, acquisition of
equipment or goods, cover pending
obligations (taxes, etc.).
Used for Refinancing, capital raise, restructure of
assets, etc.
Examples • Production company takes short term
loan backed by their production facility
• SME owner takes short business loan for
operating capital needs, backed by his
personal real estate
• Different other cases where SME owners
can provide property as collateral of the
loan
Bridge loans
Bridge loans are defined as short-term real
estate loans that provide the property owner
the necessary capital until a permanent
solution for financing has become available.
Development preparation, property
acquisition, sale advance, development exit,
etc.
• Equity release loan for sales period.
Entrepreneurs take loans against finished
apartments or houses
• Loan for the pre-development phase.
Entrepreneur takes out a loan before the
project has building permit and final
capital structure is in place
• Entrepreneur needs fast cash to close an
opportunistic transaction and is ready to
pay for speed and flexibility
Development loans
A loan used to develop the property, that
ranges from construction works to
excavation work, i.e. development of area
infrastructure, including utilities and roads.
Residential and commercial apartments/
premises/buildings development(in stages),
renovation, reconstruction, etc.
• Development of single-family house for
sale
• Development of small commercial
building for sale
• Development of recreational and science
centers
• Flipping apartment in city centers
• Reconstruction of big apartments into
smaller units
• Reconstruction of commercial building to
residential building
• Reconstruction of industrial building to
loft apartments
6
 7

Diverse and experienced leadership team

CEO
Extended Management Board Marek
Over 20 years of experience in real estate development,
Partel investment and management in seven different countries

CFO Head of Legal Head of Group Head of Head of Investor COO Head of Capital CRO
Marko Arro Ilo Keres Sales Marketing and Relations Mikhel Stamm Markets Kaspar Kaljuvee
Daniil Aal communication Triin Joeleht Willem
.
Piret Reinson Reddingius

Finance Legal Sales Marketing and Investor Operations & Capital Markets Risk Area
Communication Relationship Product
Focus: Ensuring Focus: All legal Focus: Building best Focus: Raise Focus: Assure
busines continuity by matters, expansion, products for Focus: Building Focus: Building best Focus: Run and institutional funds Investors and
financial control capital markets, legal borrowers, finding brand awareness, products for expand operational from variety of Borrowers get a
(reporting, financial agreements, new sales channels, lead generation for investors, countries. Lead sources (sourcing, great product by
risks, etc.) corporate corporate establishing best loans and investors maximising retail platform design and structuring, ensuring 0 loss of
governance, governance, practises of sales in and community investor portfolio engineering. Ensure execution and capital
compliance and compliance all the countries education throughout performance and secure and stable management)
financial control where company Manage Institutional Experience: 15 years
the company providing excellent operations
Experience: 16 years operates investor relations experience in real
operational countries customer support.
Experience: 20 years legal experience with Experience: estate valuations,
experience in the largest banks in Experience: Experience: >= 20 Experience: Background in Experience: 12 years investment and
financial the Baltics and as an Background in years experience in Background in banking, operational experience in capital management
management and attorney in a Baltic business marketing and relationship- and excellence and sales raising and
real estate. tier 1 law firm development and communications for investor investment banking
sales financial institutions management
ESTATEGURU. Supervisory board
Supervisory board

Marek Pärtel (Chairman) Joao Monteiro (Angel investor) Dr. Gabriella Kindert (independent)

Co-founder and CEO of Estateguru.
Over 20 years experience in real
estate development, investment
and management in 7 different
countries
Over 20 years experience in strategy Over 20 years experience in
consulting, senior management, angel banking, asset management and
investing with Roland Berger, Kuehne + Nagel, private equity with BNP Paribas
and investments in numerous start-ups and NN IP

Tom Lesche (SpeedInvest)

Background in venture capital,

investment banking and
entrepreneurship with SpeedInvest
and Morgan Stanley

8
ESTATEGURU. Shareholders
Main external shareholders (EstateGuru is >60% owned by its employees)

A venture capital fund with + Estonian accelerator, Top European equity Swiss Immo Lab shapes the
€400m invested in seed & invested in 185 start-ups in crowdfunding platform for development of the real
early-stage tech startups the CEE and CIS countries seed and angel investments estate ecosystem as an
across Europe innovation enabler

https://speedinvest.com/ https://startupwiseguys.com/ https://www.seedrs.com/ https://www.swissimmolab.ch/

Invests in the most promising Provides investors with exposure J&T Ventures invests in
European startups from seed to a globally diversified portfolio teams who transform their
stage onward of earlier-stage technology start- industries through
ups technology

https://www.verve.vc/ https://tmtinvestments.com/ https://www.jtventures.cz/

9
ESTATEGURU. Overview
• Risk assessment based
hundreds of data points
• Credit committee
approves/rejects projects
• EG does KYC/AML checks
• Projects are placed on platform
with full information package

Propose projects to EG Deposit cash to invest

Retail
Borrowers Get project funding Search, Select and invest in projects
investors
Interest & repayments Interest and repayments

Subject to:
• Investment committee approval
Interest & • Fund eligibility criteria
Investment funds
repayments
Security • Concentration limits
• Fund KYC/AML requirements
trustee

Institutional
investors
10
ESTATEGURU. Technology

Automation, lead origination

and digital decision drive
down costs, reduce
operational risks and
increase the portfolio
performance

✓Integrating 3rd party

services and building data
platform for scaling
business

✓EstateGuru integrates data

driven technologies,
scraping and data science
for decision making

11
Loan book and Performance
Jurisdictions Loan types Collateral types
Loan Book statistics (per 9.2021)

Originated since 2013 EUR 426 mil. 17% 18%

27% 28%
Cumulative Loss since 2013 0% 45% 48%
Cumulative Default % 7%
24% 11%
Current loan book EUR 174 mil. 37%
24%
# of loans 883 17%

% of senior loans 98.53% Estonia Latvia Finland Germany Business loan Residential
Development loan
Land
Average Loan Size EUR 207 th. Lithuania Spain Portugal Sweden Bridge loan
Commercial
Maximum loan size EUR 10 000 th.
Expected jurisdictions
Minimum loan size EUR 7 th. for the Fund
WA LTV 54%
Maximum LTV 75% 20%
9%
Minimum LTV 7%
WA loan tenor 15 9%

Maximum tenor 60 30%

21%
Minimum tenor 3
WA interest rate 11.3%
Estonia Latvia Finland Germany
Maximum interest 14%
Lithuania Spain Portugal Sweden
Minimum interest 6%
ESTATEGURU.
Investment
Process
ESTATEGURU. Investment Process
1-2 weeks 1 week 1 – 3 weeks 1 day Tenor of loan

Origination Underwriting Syndication Transaction Monitoring

EstateGuru • In-house sales team • Detailed credit analysis • Prepare documentation • Notary conducts own • Monitor timely payment
actively sources • Credit committee • Allocate priority funding due diligence • Take corrective action
potential projects assesses project sources • Mortgage on behalf of where necessary
• Initial analysis and • 3th party valuation • Place loan on platform trustee and held for • Allocate returns to
go/no go • Offer to borrower with all relevant info investors investors
• Prep for credit • Legal sign-off • Finalise documentation
committee • Final allocation • Collect investor funds

Borrower • Sign-up (accept T&Cs) • Provide additional info • Sign all docs (e.g. loan • Sign mortgage • Pay interest and
• AML & KYC checks • Answer questions agreement, general agreement amortisation
• Provide company info • EG onsite visit T&Cs, user terms) • Funds are released to • Execute project
• Provide project info borrower to use for the • Inform EG about
project progress or issues
• Provide ESG info

Retail investor • Sign-up (accept T&Cs) • Search site for loans • Select loans to invest • Receives executed loan • Personalised portfolio
• AML & KYC checks • Read and analyse info contract updates
• Transfer funds to • Confirm participation • Money is deducted from • Email updates
personal EG account personal account • Receive debt service

Debt fund/ • Prepare info-pack for • Eligibility check • At least 51% allocation • Receive executed loan • Periodic reporting to
Investment AIFM • KYC/AML/ESG check • More if needed to fully contract AIFM & investors
manager • Investment committee fund loan • Transfer funds to EG
approves/rejects project
14
ESTATEGURU – Origination
In-house sales • In-house sales team in every operating country
team • Actively approach potential clients (real estate managers/investors,
property developers, etc. ) and follow-up with leads
• Build and maintain partner network
• Relationship management with existing clients

In-house • Successfully build the EstateGuru brand in key-markets

marketing team • Execute on- and offline marketing campaigns
(events, advertising, etc.)
• Manage ambassador network

Local partner • Wide active and incentivised partner network of realtors, brokers,
network consultants, accountants, intermediaries, etc. in each market

Ambassador • EstateGuru work with a growing network of ambassadors promoting

network the EG brand as well as bringing new projects to the platform
• Examples are financial social media influencers on platform such as
YouTube, and LinkedIn

Online lead • Data web scrapers continuously searching online for potential
generators projects
• Access to relevant databases (construction permits, planning
permissions, land book registries, real estate listing portals)
15
ESTATEGURU. Underwriting technology
Digital Decision Making: Highly automated credit process that leverages the financial expertise of the team

Sourcing Loan application Scoring Funding Collections

Today

• Multi channel customer
sourcing
• CRM management system
• Building permit scarpers (EE, LV,
GER, FI. Other countries will be
added in due course)
• Digital borrower application and
contract journey
• Third-party data for due
diligence
• Calibrated customer selection
for repeat loans
• SME credit assessment & multi
dimensional risk scoring
• Automated project matching
• Compliant investor reporting
• Built-in KYC/AML layer through
third-party API
• Built in risk management
system
• Secure/collateral conversion
• Automatic loan monitoring
process

Under development

• Sourcing partnerships
• Micro targeted digital marketing
• Verification and cross- check
with public databases partially
implemented
• Data harmonization
• Automated real estate valuation
assessment
• Enriching algorithm with third-
party data impairment checks,
geo and satellite data
• Direct API to bank deposits,
integration of marketplaces and
deposit solutions
• Full AML/KYC due diligence
integrated into our system.
• Synthesized learnings from loan
data
• Developing AI/Machine
Learning models

17
 ESTATEGURU. Risk management
CHIEF RISK OFFICER
Independent risk management with tight processes and internal controls; the due diligence process is based on a
proven, disciplined, bottom-up credit analysis and an internally developed rating system (based on a combination of
internationally recognized methodologies)
Credit Risk Team:

01 02 03 • Chief Credit Officer

First line of defense.
Sales and operating departments
with local country offices of
EstateGuru
Majority of proposals are
declined by the front office
Second line of defense.
Independent risk management
department which covers and
monitors all the main risk control
functions
Management board approves all
policies and all risk KPIs on
weekly basis
• Debt Collection Specialist
Third line of defense. • Credit Risk Analyst (EST & FIN)
External audit firm confirms financial • Data Scientist
performance and internal controls
Supervisory Board which checks how
Operational Risk Team
group level policies and procedures
• Operational Risk Specialist
are implemented and followed.

Credit Committee AML Team

• The highest credit decision making authority in EstateGuru. • AML Risk Specialist
• Determine all risk policies and approve loan applications
• Approves risk assessment model
• Current members are Kaspar Kaljuvee (Chief Risk Officer), Andres Luts (Chief Credit Officer), and a varying Credit
Risk Managers Team
Analyst
(New Markets):
• Risk Manager (Germany)
AML Committee
• Risk Manager (Spain)
• Final authority on all KYC and AML issues with respect to borrowers and investors • Risk Manager (United Kingdom)
• Determine and enforce the KYC/AML framework • Risk Manager (Finland)

18
 ESTATEGURU. Arrears management
Activities and steps

+3 days: +8 days: +14 days: +21 days: +45 days:

Reminder SMS Call to borrower. Call to the Call to the Call to the borrower.
sent by the Responsible: Loan borrower. HQ debt borrower. HQ Restructuring discussions,
system to the Manager/Country collection debt collection refinancing options (via
borrower. Manager/Operations specialist becomes specialist takes alternative creditor), additional
Specialist. involved over time to sell the mortgaged real
estate discussions.

Due date

+60-180 days: Warning

letter to pay the loan and/or
+5 days: termination notice The case
E-mail reminder. is forwarded to collection
E-mail is created agency (or directly to
automatically by the +10 days: security agent) and
system and sent to Reminder SMS to +15 days: +31 days: documents are prepared for
the borrower. the borrower. Email reminder Call to the borrower forwarding to bailiff.

19
Environmental, Social, and Governance. Approach
• Before applying, all borrowers and retail investors go through detailed AML and KYC We only facilitate projects
checks. Borrowers are screened against our Exclusion list and against multiple AML/KYC that are compatible with our
Origination

databases
corporate values and
• All borrowers are screened against our ESG Checklist
responsible investment
• The checklist identifies potential ESG risks including environmental concerns, social
principles
concerns (incl. community, supply chain, human resources and health and safety-related
issues) and corporate governance and ethical concerns

• As part of the credit due diligence, borrowers fill in an ESG scorecard, identifying priority
Underwriting

areas and improvement areas

• The loan officer reports on ESG issues as part of the credit assessment
• Any issues with respect to AML and KYC are discussed in the AML committee
• Any issues with respect to ESG is discussed with senior management

• Each year borrowers are required to fill in an ESG questionnaire

• EstateGuru, where possible, will promote and influence ESG friendly behavior within its
Monitoring

community
• On an annual basis, EstateGuru reports to its shareholders and investors community on its
ESG performance
• Existing policies, procedures and standards are reviewed and improved on a continuous
basis

20
ESTATEGURU.
Market
opportunity
The leading cross-border marketplace for short-term
property-backed loans in continental Europe
 The Market opportunity:
Underserved European SME property-lending market

Access to underserved parts of the real estate < €10m loan-size SME lending market non- Most alternative lenders focused on unsecured
loan market as well as covering underserved appealing for traditional lenders, who withdrew SME lending, leaving property-backed loans
regions, both normally out of reach to investors; from the market untapped

This leaves an estimated €400bn untapped Digital lending platform are able to serve the Lack of financing options offers opportunities
European SME lending market market effectively for high yield with strong downside protection
While being an accepted asset class for
professional investors
EstateGuru will help to solve the arbitrage of the market
EstateGuru operates in a segment where borrowers have been underserved and investors are missing the right
risk/return profile.

SMEs have limited access to credit Investors struggle to generate yield

Limited access to good investments resulting in

High rejection rates of up to 40%
trillions of sleeping money in deposits

Long time to funding of multiple weeks High risk of higher yielding instruments without
is too slow for SMEs collateral protection

Good investments are localized making investing

Unattractive borrowing terms
cumbersome

23
 Why is EstateGuru best positioned to
utilise this market opportunity

Local presence in key markets with strong brand

recognition

Market Strong track record in entering new markets

Opportunity
Limited competition due to first mover advantage

Limited competition due to untapped segment of the real

estate loan market

24
CONTACT US

Willem Reddingius
Director Capital Markets
willem.reddingius@estateguru.co
+31 6 83330033
DISCLAIMER
BEFORE INVESTING YOU SHOULD CAREFULLY CONSIDER THE FUND’S
INVESTMENT OBJECTIVES, STRATEGIES, RISKS, CHARGES AND
EXPENSIES, RISKS RELATED TO THIRD PARTY SUPPLIERS.
INVESTMENTS IN FUNDS INVOLVE RISKS INCLUDING POSSIBLE LOSS
OF PRINCIPAL.

EstateGuru does not provide any advice on investment. This

indicative factsheet is considered as a non-binding indicative
description of EstateGuru. The historical data and performance in
financial return to the investors does not guarantee a future
return and is not indicative of future performance. 100%
mortgage-backed credit product means that the risks of
investing in the fund are mitigated by securing the debt with
mortgage on real estate, but the risks are not and cannot be fully
eliminated. Invested capital is always at risk and investors
should always carefully study the risks before investing.