Market announcement

Title

Notice of calling the annual general meeting of Hepsor AS

Message

The  management board  of Hepsor  AS (registry  code 12099216, address Järvevana
7b, 10112 Tallinn)  calls the annual  general meeting of  the shareholders to be
held  on Thursday,  23 May 2024 at  11:00 in hotel  Mövenpick conference center,
Lembitu  12, Tallinn. The  registration of  participants of  the general meeting
shall  begin on 23 May 2024 at  10:30 at the location of  the meeting. We kindly
ask  the shareholders to arrive ahead of  time, considering the time it takes to
register the participants of the meeting.

The list of shareholders entitled to vote in the annual general meeting shall be
determined as at 7 days before the general meeting is held, i.e. on 16 May 2024
at the end of the business day of the settlement system of Nasdaq CSD Estonia.

Procedure and term of electronic voting

The shareholders who do not wish to participate at the physical meeting can vote
electronically  before the meeting is held. In order to cast an electronic vote,
the  shareholder  must  fill  out  the  voting  ballot which is available on the
website     of    Hepsor    AS    (https://hepsor.ee/en/for-investors/corporate-
governance/general-meeting/).  The filled voting ballot must be signed digitally
and  sent by e-mail  to investor@hepsor.ee (mailto:investor@hepsor.ee) by 22 May
2024 at 16:00 the latest.

Agenda of the general meeting and proposals of the supervisory board for voting

 1. Approval of the 2023 annual report

The supervisory board proposes to the shareholders:

  * To approve the 2023 annual report of Hepsor AS in the form as submitted to
    the general meeting.

 1. Distribution of profit

The supervisory board proposes to the shareholders:

  * To distribute the net profit in the amount of EUR 1,185,000 of the financial
    year which ended 31.12.2023 as follows:
  * allocate EUR 1,185,000 to the retained profit from previous periods.

 1. Extension of the term of office of the supervisory board members

The supervisory board proposes to the shareholders:

  * To extend the term of office of the supervisory board members Andres Pärloja
    (personal identity code 37705120246), Kristjan Mitt (personal identity code
    38108256014) and Lauri Meidla (personal identity code 38009066011) for three
    years as of the adoption of the decision of the general meeting of the
    shareholders.

Publication of information related to the general meeting

Information  related to the general meeting  (this notice on calling the general
meeting; annual report, sworn auditor's report and profit distribution proposal;
draft   resolutions  submitted  by  the  management  board,  supervisory  board,
shareholders  and auditor and the  substantiations of the shareholders regarding
the agenda items; the total number of shares and voting rights related to shares
on  the day of publishing the notice  calling the general meeting; the blanks to
be used when voting on the basis of authorisation and when voting electronically
before  the meeting)  are available  for review  on the  website of Hepsor AS at
https://hepsor.ee/en/for-investors/corporate-governance/general-meeting/.     At
this address, other documents to be submitted to the general meeting pursuant to
the  law  are  also  available  for  review,  as  well  as information about the
procedure  and term  for exercising  shareholder rights  as set  out in  § 287,
§ 293 (2) and § 293(1) (4) of the Commercial Code.

Any  questions  regarding  the  items  on  the  agenda may be sent to the e-mail
address  investor@hepsor.ee  (mailto:investor@hepsor.ee).  Questions and answers
are published on the website of Hepsor AS.

Information  regarding the participation  in a general  meeting by proxy and the
notification procedure of revocation of the authorisation

Everyone  who wishes to appoint a representative  acting on the basis of a power
of  attorney is  kindly requested  to notify  Hepsor AS  of this  not later than
before   the   beginning   of   the   annual   general   meeting  by  e-mail  at
investor@hepsor.ee  (mailto:investor@hepsor.ee). We also kindly request that the
powers of attorney, signed digitally by the shareholder, are sent to the same e-
mail  address not later than before the beginning of the annual general meeting.
In  case the  authorisation is  revoked, we  kindly request  that the respective
notice,  signed digitally by the shareholder, is sent to the same e-mail address
investor@hepsor.ee   (mailto:investor@hepsor.ee)   not  later  than  before  the
beginning of the annual general meeting.

Registration of participants of the general meeting

For  registration, we  ask the  shareholder to  bring an identity document (e.g.
passport  of  ID  card).  In  addition  to  the  identity  document,  we ask the
representative of a shareholder to bring the original copy in case of a power of
attorney in unattested written form.

In addition to an identity document, we ask the representatives of foreign legal
persons  to bring  an apostilled  extract of  the commercial  register where the
foreign  legal person is entered. The  commercial register extract must be dated
up  to  three  months  before  the  annual  general meeting is held. In case the
person's  right of  representation is  not evident  from the commercial register
extract, we ask that the apostilled articles of association of the foreign legal
person  are submitted for  the verification of  the right of representation. The
apostille  requirement does not apply if  the respective extract and articles of
association have been attested by a notary in France, Belgium, Denmark, Ireland,
Italy, Latvia, Lithuania, Poland, Ukraine or the Russian Federation.

Henri Laks
Juhatuse liige
Telefon: +372 5693 9114
e-post: henri@hepsor.ee

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Hepsor AS (www.hepsor.ee) is one of the fastest growing residential and
commercial real estate developers in Estonia and Latvia. Over the last thirteen
years Hepsor has developed more than 1,600 homes and 36,000 m2 of commercial
space. Hepsor was the first real estate developer in the Baltic States to
implement a number of innovative engineering solutions that make the buildings
we construct more energy-efficient and thus more environmentally friendly. The
company's portfolio is comprised of 24 development projects with a total
sellable space of 171,000 m2.